Serbia Inflation May 2019

According to the Statistical Office of the Republic of Serbia, consumer prices fell 0.3% over the previous month in May, contrasting the 0.7% increase registered in April. The dip came chiefly on the back of a sharp fall in prices for food and non-alcoholic beverages, and a minor dip in health costs.

Inflation decelerated to 2.2% in May from 3.1% in April, returning to the lower half of the Central Bank’s target range of 3.0% plus or minus 1.5 percentage points. Annual average inflation meanwhile was stable at 2.3% in May.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.4% in 2019, which is unchanged from last month’s forecast, and to average 2.6% in 2020.

Author:Lindsey Ice, Economist

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At its 8 August monetary policy meeting, the executive board of the National Bank of Serbia (NBS) voted to slash the key policy rate to 2.50% from 2.75%, a new record-low under the inflation targeting.

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